02723, Fall River, MA

The 2723 zip code of Fall River, MA has a median home value of $211,000 and a median home equity value of $141,000. This is significantly lower than the Massachusetts statewide median home value of $374,500 and statewide median home equity value of $236,700. The 2723 zip code also has a lower than average homeownership rate (54%) and lower than average household income ($59,200).

There are several factors that may contribute to the low home values in the 2723 zip code of Fall River. First, the population in this zip code is relatively young and relatively low-income. Second, there is a high level of foreclosure activity in this area. Third, there is limited available land in this area which may limit future housing development. Fourth, the market for homes in this area may be saturated due to high levels of demand and limited availability. Fifth, the cost of living in Fall River is higher than average which could contribute to higher home values. Sixth, recent changes to state law governing property taxes could have an impact on home values in this area over time.